Companies can to thrive at their home base, and expansion is the next obvious solution. When a company decides to expand the business, it must be driven by the right reasons. In a lot of scenarios, the companies do not have a long-term view of the situation. Think of it as a battle versus a war.
A geographical expansion helps provide access to a new market along with additional resources. A company that takes the right strategy realises that the new location will increase the competitive advantage of the business. It must be done right, or it will impact the business negatively for an indefinite period of time.
Let’s talk about how Qatar has been the latest vision for many business owners and how to have a successful business expansion in this side of the world.
Size is not the tell-sign, and Qatar will tell you why. Smallest and yet the richest with respect to per capita income in the world. Very high human development and most advanced Arab state for the same as classified by the UN. Qatar wields disproportionate influence in the world and has been identified as a middle power. With record-breaking success across petroleum, energy, tourism, infrastructure, healthcare etc. sectors, you must know everything about this country if you think you could expand here soon.
Qatar is considered especially lucrative because of the fact that they impose no income tax and have the lowest company tax rates. A trendy destination for both employment and business conduct.
Tips for expanding business in Qatar
Despite being an Islamic country, most of its population are expats. Be aware of the background of the people you are dealing to be able to relate to them better. The way you conduct yourself with a local would be very different from an expat. Respect is the key, no matter what.
Qatar Business hours: 7:30 am to 5 pm Sunday to Thursday. Fridays and Saturdays are weekends depending on the kind of business and industry involved. Whilst English is spoken widely, Arabic is the official language. Documentation is primarily completed in Arabic with translations in English as and when necessary.
Dress modestly and conservative. This applies to both men and women. Handshakes are allowed between men. Make sure to first acknowledge the most senior person with their professional title and their first name. Do your homework well and know the people you are going to meet. First impressions are everything.
Qatar is one of the most progressive countries in the Gulf, especially with respect to gender equality. The daily life is significantly affected by their religion. It is not enough to just be aware of the practices followed but to apply it in the way you deal with them in business. For instance, the acceptance of invites is a sign of respect. Donation to charity and gifts to children are taken care of during Eid Al Fitr. Being a part of their lives would mean a lot to them.
Sensitivity to the culture and customs of the local is necessary for a good bond.
There are many little things that you can add to your list of to-do.
- Take advantage of the strength of the available resources
- Seek and learn from the knowledge of the location
- Learn the competition and try to gain an edge
- Understand the laws of the land along with the business, clientele and the surroundings well.
- Have a local partner. This professional can help you understand intricate details of the journey.
These tips will not only help you be comfortable in the country of Qatar but also help you develop a deep bond that will ensure a successful business in the country.
Contact us today to know more about the country and how to establish a local business there with the right network. This is what we are here for. We help you with the much-needed insight and knowledge that ensures adherence to the procedures and policies. Take care of the expansion of your business, and we take care of you.